The photo given below is the horizontal analysis of Apple Inc income statement for two quotas. Discuss the analysis
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The photo given below is the horizontal analysis of Apple Inc income statement for two quotas. Discuss the analysis
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- Please I want answer for this question by typing it. ThanksUsing the information provided below from Ben Company prepare two income statements: A normal GAAP Income Statement A CVP Income Statement These Income Statements should be done in good form and in Excel. Include formulas.Need Help ASAP! Calculate the gross profit percentage ratio of Apple Inc. for the year 2020 (current year) and 2019 (previous year) and the gross profit percentage ratio of its industry peer Microsoft Corp. for the year 2020 (current year). Show calculations. Round the ratios to two decimal places
- The following account balances were determined for sporting pens company as of December 31, 2021. Prepare an income statement, a statement of owners equity and a balance sheet for supporting pens company as of December 31, 2021. Identify how each of the following transactions affects the company's financial statements. For the balance sheet, Identify how each transaction affects total assets, total llabilities, and equity. For the Income statement, Identify how each transaction affects profit. If there is an Increase, select a *+" In the column or columns. If there is a decrease, select a "-" In the column or columns. If there is both an Increase and a decrease, select a *+/-" In the column or columns. The Iline for the first transaction Is completed as an example. Income Statement Balance Sheet Total Total Transaction Equity Profit Assets Liabilities 1 Owner invests cash 2 Seli services for cash 3 Acquire services on credit 4 Pay wages with cash 5 Owner withdraws cash 6 Borrow cash with note payable 7 Sell services on credit 8 Buy office equipment for cash 9 Collect receivable from (7) 10 Buy asset with note payableCurrent Attempt in Progress The following selected accounts from Swifty Corporation's general ledger are presented below for the year ended December 31, 2021: Accounts payable $115,640 Equipment $1,963,520 Accounts receivable 174,640 Income tax expense 155,760 Accumulated depreciation-equipment 676,140 Insurance expense 151,040 Cash 14,160 Inventory 441,320 Common shares 354.000 Prepaid expenses 53,100 Cost of goods sold 2,271,500 Retained earnings 797,680 Depreciation expense 328,040 Salaries expense 1,086,780 Sales 4,696,400 (a) Prepare a single-step statement of income. SWIFTY CORPORATION Statement of Income (Single-step)
- vertical analysis. INSTRUCTIONS: Complete the condensed Statement of Financial Position and Income statement by indicating the correct percentages applying concepts in horizontal and YOUR FINAL REQUIREMENTS 2 of 3 STRUCTIONS: Complete the condensed Statement of Financial Position and Income ng the cost of p ontrol of cost. 1 f operations, p r social use of nd advice to a CANVAS Canvas Company GEMENT AC Statement of Financial Position December 31, Year 2 and Year 1 ting in whie d non-finat are provic known as (Php in thousands) ourrokt year year Year 2 Year 1 Horizontal Vertical and Qual ormation nd orec Current assets: Cash and marketable securities Analysis Analysis fet asp Accounts receivable, net ... 130 120 8.33% 180 7.2 Inventory.. 180 0% Prepaid expenses 170 55.55%. 4.8 180 Total current assets ... 20 20 500 500 20.% Noncurrent assets: ress Plant & equipment, net ns. 2,000 1,930 36.24 Total assets .. lon 2,500 2,430 8! 100% led Current liabilities: Accounts payable.. 130 160 5.2…Explain how the income statement, which shows a company's financial success over a period of time in terms of the connection between revenues and costs, reports the financial performance of a company.Please do not give solution in image format ? And Explain Proper Step by Step.
- Please do not give solution in image format ?.Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC Consolidated Statement of Income $ millions, For Fiscal Year Ended April 26, 2019 Net sales $30,557 Costs and expenses Cost of products sold 9,155 Research and development expense 979 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 83 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 7,734 Other nonoperating income, net (157) Interest expense 1,444 Income before income taxes 6,447 Income tax provision 547 Net income 5,900 Net income loss attributable to noncontrolling interests (19) Net income attributable to Medtronic $5,881…please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)